Inuvo (NYSE:INUV) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Inuvo (NYSE:INUV) in a report released on Friday morning. The brokerage issued a hold rating on the stock.

Inuvo Price Performance

Shares of INUV traded down $0.01 during trading hours on Friday, hitting $0.23. The company’s stock had a trading volume of 1,593,403 shares, compared to its average volume of 402,458. The business has a 50 day simple moving average of $0.25 and a two-hundred day simple moving average of $0.28. Inuvo has a 52-week low of $0.18 and a 52-week high of $0.57. The company has a market cap of $32.58 million, a price-to-earnings ratio of -3.87 and a beta of 1.15.

Inuvo (NYSE:INUV) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Inuvo had a negative net margin of 9.21% and a negative return on equity of 46.09%. The business had revenue of $18.21 million during the quarter. Research analysts predict that Inuvo will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Inuvo stock. Bard Associates Inc. grew its position in shares of Inuvo, Inc. (NYSE:INUV) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,234,177 shares of the company’s stock after purchasing an additional 279,100 shares during the period. Bard Associates Inc. owned approximately 3.02% of Inuvo worth $1,044,000 at the end of the most recent quarter. 29.36% of the stock is owned by institutional investors and hedge funds.

About Inuvo

Inuvo, Inc engages in the advertising technology and services business primarily in the United States. It sells information technology solutions to brands, agencies, and large consolidators of advertising demand (platforms). Its platforms optimize the purchase and placement of advertising in real time.